AV Cargo officially launched operations to Africa on behalf of Avient Ltd., which is no longer trading because of financial difficulties.
Portland, the administrators, sanctioned AV Cargo to operate existing commitments on behalf of Avient pending the outcome of its evaluations of the company.
“Going forward, I have complete confidence that AV Cargo can deliver a secure and profitable return for its shareholders by implementing a proven business model in a niche market in Africa,” Simon Clarke, CEO of AV Cargo, said. “We are strongly encouraged by the overwhelming confidence and support of potential customers in the market and key suppliers who have detailed knowledge of our business plan.”
AV Cargo has already obtained funding and has secured new aircraft. The first of up to 3 MD-11 aircraft will enter service later this April. The second aircraft is scheduled for delivery in May.
Additional aircraft will enter service after future contracts have been confirmed.
“Whilst the global cargo market has been depressed in recent times, ‘green shoots’ are emerging in specific locations, most notably in Africa and the Middle East,” Clarke said. “Our expertise and knowledge of the African markets puts AV Cargo in the forefront position going forward.”